Foreign Trade in January-March, 2013-2018. Source: Geostat

Georgia’s foreign trade turnover in the first three months of 2018 increased by 23.3% year-on-year, reaching USD 2.8 billion, according to the preliminary figures released by the state statistics office today.

Exports from Georgia increased by 28.4% year-on-year to USD 0.7 billion, and imports were up by 21.6% y/y to USD 2 billion, with trade gap standing at USD 1.3 billion.

Georgia’s trade turnover with the EU-member states stood at USD 820.1 million in the first quarter of 2018, 27.6% increase over the same period of last year. Exports from Georgia to the EU-member states increased by 31.4% y/y to USD 209.4 million, while imports constituted USD 610.7 million, 26.4% increase y/y.

Trade turnover with the Commonwealth of Independent States (CIS) increased by 30% y/y to USD 976.9 million. Georgian exports to CIS countries were up by 48% y/y to USD 303 million and imports increased by 23.2% to USD 673.9 million.

The share of the EU countries in the foreign trade turnover of Georgia stood at 29%; 28.3% in exports and 29.3% in imports (in 2017, the corresponding figures stood at 28.1%, 27.7% and 28.2%).

The share of the CIS countries constituted 34.6%, 40.9% in exports and 32.3% in imports (32.8%, 35.5 % and 31.9% in January-March 2017, respectively). 

Turkey remains Georgia’s largest trading partner with USD 404.6 million in the first three months of 2018, followed by Russia, Azerbaijan and China with USD 311.1 million, USD 270.2 million and USD 202.8 million, respectively.

They are followed by Ukraine with total trade turnover of USD 138.9 million; Armenia – USD 135.2 million; Germany – USD 111.8 million;  France and the United States – USD 110 million each; Bulgaria – USD 100.1 million.

Russia tops the list of largest trading partners by exports with USD 98.2 million, followed by Turkey, Azerbaijan and Bulgaria with USD 93.5 million, USD 76.4 million and USD 62.9 million, respectively. 

Turkey, Russia, Azerbaijan and China are the top trading partners of Georgia in terms of imports with USD 311 million, USD 212.9 million, USD 193.8 million and USD 182.3 million, respectively.

Copper ores and concentrates were on top of the list of exports with USD 118.8 million (16% of total exports), followed by ferroalloys – USD 85.1 million (11.5 % of total exports); re-export of motor cars – USD 64.9 million (8.8% of total exports); wine – USD 41.8 million (5.7% of total exports); mineral waters – USD 32.1 million (4.3% of total exports); nitrogen fertilizers – USD 29.4 million (4% of total exports); petroleum and petroleum oils – USD 28.9 million (3.9% of total exports); medicines – USD 28.2 million (3.8% of total exports); non-denatured ethyl alcohol and spirits – USD 27.4 million (3.7% of total exports); cigarettes – USD 20.7 million (2.8% of total exports); other commodities – USD 262.8 million (35.5% of total exports).

Oil and oil products remain on top of the list of imports with USD 186.9 million, followed by petroleum gases – USD 127.4 million; cars – USD 117.9 million; copper ores and concentrates – USD 79.6 million; medicines – USD 72 million; mobile and other wireless phones – USD 44.7 million; automatic data processing machines – USD 38.2 million; wheat – USD 28.4 million; electricity – USD 27.2 million; turbines – USD 24.8 million; other commodities – USD 1.3 billion.